Janney Capital Management LLC Sells 936 Shares of Simon Property Group, Inc. $SPG

Janney Capital Management LLC lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,202 shares of the real estate investment trust’s stock after selling 936 shares during the period. Janney Capital Management LLC’s holdings in Simon Property Group were worth $11,607,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 789 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 509 shares during the period. Inspire Investing LLC increased its holdings in shares of Simon Property Group by 5.7% in the first quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after buying an additional 1,750 shares during the period. Focus Partners Wealth increased its holdings in shares of Simon Property Group by 89.0% in the first quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock worth $18,959,000 after buying an additional 53,764 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Simon Property Group by 16.3% in the first quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust’s stock worth $34,996,000 after buying an additional 29,479 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.2%

Shares of NYSE:SPG opened at $185.85 on Tuesday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The firm has a market capitalization of $60.68 billion, a P/E ratio of 28.72, a P/E/G ratio of 11.23 and a beta of 1.50. The stock has a 50 day moving average price of $175.16 and a 200-day moving average price of $164.92. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is currently 132.92%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPG. Barclays began coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective on the stock. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price target on the stock. Piper Sandler boosted their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Finally, Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $186.46.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.